News

Saudi Arabia And UAE Join The Global Rush For AI Dominance

As operational expenses for AI soar, the race is on to purchase as many high-performance Nvidia chips as possible.

Published

2 years ago

August 16, 2023

saudi arabia and uae join the global rush for ai dominance

The United Arab Emirates and Saudi Arabia are now part of the global race to buy up thousands of Nvidia A100 and H100 chips, two of the company’s high-performance processors, due to their pivotal role in Generative Artificial Intelligence (GenAI) development.

The Nvidia H100 chip, with a massive price tag of $40,000, is the world’s first processor designed specifically for GenAI. Saudi Arabia already has a stash of over 3,000 of the chips at the King Abdullah University of Science and Technology (KAUST). Meanwhile, the UAE has access to thousands of Nvidia processors and has even developed a unique large language model, known as Falcon, at the Technology Innovation Institute.

The ongoing global chip shortage is contributing to the scarcity and pricing of the processors, and the total cost for server infrastructure is expected to exceed $76 billion by 2028. OpenAI, the leading player in the field, currently runs ChatGPT on a cloud infrastructure costing millions of dollars per day to run. At the same time, the massive amounts of computing power required by these AI systems is also responsible for driving up energy consumption and other related expenses.

Also Read: Dubai Community Launches AI-Powered Pedestrian Crossings

The global scramble for high-performance Nvidia chips reflects AI’s pivotal role in shaping modern, digital-first economies. The ambitions of Saudi Arabia and the UAE to play leading roles in AI development come at significant financial costs and underscore the need for highly efficient computing methods. The development of AI involves not only scientific innovation but also careful attention to the ethical and environmental implications of the technology.

One thing is for sure: As the AI arms race gathers pace, striking a balance between technological advancement and social and environmental responsibility will become paramount.

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News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

4 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.